Debts are always a factor of great concern, especially when they fluctuate in large numbers that become very difficult to pay. Therefore, it is important to know about the legal provisions, for example, the Peruvian Civil Code expresses about the prescription of debts, as does the SBS. Therefore, the question arises regarding this last entity: do the debts expire within the SBS risk channel?
It is essential to take into account the current legal regulations to understand the process of prescription of debts and how this affects the financial sphere. In this note we develop information so that you can learn everything about this important topic.
Debt prescription in Peru: what does the Civil Code say?
He Civil code Peruvian law establishes that debts expire after 10 years. This period of prescription implies that once this period has elapsed, the debts can no longer be enforced judicially. It is important to take this legal provision into account to avoid possible complications in the future in case of having debts earrings
Do debts registered in the SBS risk center expire?
As established in the Civil codea debt may expire after 10 years. However, the Superintendency of Banking, Insurance and AFP (SBS) has additional provisions regarding the debts registered in the risk center, which do not expire. This means that, even if the 10 years have passed and the debt cannot be enforced judicially, it will remain registered with the corresponding entity and will only be eliminated if the debtor makes the corresponding payment.
Prescription of debts: what other deadlines exist?
The mortgage debtssince they are backed by a specific guarantee, have a statute of limitations of 15 years. In contrast, debts arising from non-contractual liability, such as damages, have a statute of limitations of 2 years. It is important to take into account these differences in the statute of limitations depending on the nature of the debt and the guarantee backing it.
Can the bank seize my property if I have bank debts?
In Peru, it is essential to consider that banking entities have the authority to carry out asset seizures and bank accounts in debt situations. However, it is crucial to note that this procedure must be followed through a legal process that involves obtaining a court order. Such an order is granted once the creditor has exhausted all possible avenues to try to recover the debt without success. Therefore, it is of utmost importance to respect due process and the rights of both parties involved in these financial circumstances.
What is SBS?
The Superintendency of Banking, Insurance and AFPknown as SBSis the entity responsible for regulating and supervising the financial, insurance and pension sectors in Peru. Its work includes the prevention and detection of money laundering and terrorist financing, with the fundamental purpose of protecting the interests of depositors, insured and members of the Private Pension System.
Source: Larepublica
Alia is a professional author and journalist, working at 247 news agency. She writes on various topics from economy news to general interest pieces, providing readers with relevant and informative content. With years of experience, she brings a unique perspective and in-depth analysis to her work.
